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IP: Too Much, Too Soon for Telecom
From: Dave Farber <dave () farber net>
Date: Sun, 30 Jun 2002 19:19:29 -0400
------ Forwarded Message From: Bret Fausett <fausett () lextext com> Date: Sun, 30 Jun 2002 15:47:37 -0700 To: Dave Farber <dave () farber net> Subject: Too Much, Too Soon for Telecom TOO MUCH, TOO SOON FOR TELECOM By KAREN KAPLAN and JON HEALEY, TIMES STAFF WRITERS
From 1996 to 2001, the telecommunications industry spent nearly half a
trillion dollars building a monumental high-tech network to ferry phone calls, e-mail and faxes around the world at the speed of light. But that investment--roughly twice what the federal government spent on the interstate highway system over the last 50 years--turned out to be a far bigger bust than anyone expected. And the nearly $300 billion in debt that piled up during this dramatic build-out is wrapped like an anchor around the neck of the sinking telecom industry as it suffers one of the most dramatic collapses in U.S. corporate history. http://www.latimes.com/business/la-fi-billions30jun30.story ------ End of Forwarded Message For archives see: http://www.interesting-people.org/archives/interesting-people/
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- IP: Too Much, Too Soon for Telecom Dave Farber (Jun 30)